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One way to speed up your debt payoff is to decrease your interest rate. If you've got high-interest debt you want to find a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk way to produce passive income Then consider opening a high-yield savings account with an online bank like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% that's unreal.

Although this wont make you filthy rich, it'll be a safer way to create consistent income and not lose your money since CIT FDIC insured.

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Once the initial work of creating the publication is done, selling books can be a great method to produce some serious residual income.

Once your book can be found on a site like Amazon, you could receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your publications, the more money youll earn.

Have you got an extra room which you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find a place to stay instead of staying at a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room after a suspect leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their bedrooms.

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If you've got a website already then this is a no-brainer.  Some folks are making over $50,000 a month just like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.

If you dont have a website, you can start one for less than $3/month. Thats the price for getting a site sponsor a company that stores your site on servers so it can be seen on the Internet.   Click here to get see this site special pricing of $2.95/month Continue with Bluehost.

Affiliate marketing can be a terrific way to make passive income. This is because when people click on the affiliate links on your site, you receive a commission at no additional cost to them. All they have to do is buy a service or product.

Another way to make passive income is to create a lead generation site. Lead generation websites exist to give referrals to local businesses.

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Therefore, lets say you produced a lead generation site which focuses on real estate. Youd use the site in order to educate people about home ownership. Or, youd educate them about property investing.

Within the website youd have links where individuals could contact you to learn more. When someone contacts you, you refer them to some real estate professional in their region.

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The real estate professional would cover you to the lead. Its a warm lead and not a cold encounter, so professionals would be more willing to pay.

You might also make money by having advertisers on your website. Note that you i was reading this would need to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your site near the top of search engine pages would be vital to success.

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Did you know you can sell your own products on Amazon and have them even send the products for you I really have a friend who's done very well with this as he earns six figures per year selling his own products online.

You can earn even more money by signing up with a special rewards shopping website. There are websites which will pay you each time you shop at certain online retailers.

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You just download the websites browser extension and each time youre on an e-commerce site thats qualified for cash-back, youll get a notification. I use a free site called Ebates, which will pay you $10 just for signing up.

With their dual cash back specials, you can double your passive income earnings in the event the right items go on sale.

Again, your earning plan goes out the window if you buy things you dont need just to earn rewards. Just go about your shopping as normal, and potentially earn a nice cash bonus in the process.

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With the explosion of eCommerce, drop shipping has become very common.  Here's how it works: you make an online shop that provides products from certain manufacturers.